Federal Minister for Finance and Revenue Muhammad Aurangzeb informed the National Assembly that Pakistan’s total debt amounted to seventy-one point three trillion rupees as of June twenty twenty-four, representing sixty-seven point four percent of the GDP. This includes external debt of Read More...
The Federal Tax Ombudsman handled thirteen thousand five hundred complaints from taxpayers in twenty twenty-four, with only three hundred and thirty-six of these being contested by the Federal Board of Revenue before the President of Pakistan.
Dr Asif Mahmood Jah, the Federal Tax Read More...
Pakistan’s trade deficit rose by thirty-seven percent year-on-year in December twenty twenty-four to two point five billion dollars, marking the highest monthly deficit since April twenty twenty-four. This increase was driven by a significant rise in imports, which reached five point four Read More...
Pakistan’s oil import bill grew marginally by one percent year-on-year during the first half of the current fiscal year, reaching eight point zero eight billion dollars, as reported by the Pakistan Bureau of Statistics.
Crude oil imports rose by three point zero three percent in value Read More...
The World Bank has raised concerns about significant risks associated with its twenty billion dollar Country Partnership Framework for Pakistan, which spans the next decade. The framework aims to support long-term development but faces challenges from political uncertainty, governance issues, Read More...
The US sanctions on Iran have had a devastating impact on Pakistani exports to the neighboring country, with exports dwindling to a mere $20,000 in the last fiscal year. This significant decline is largely attributed to the unavailability of banking channels, which has posed a major hurdle for Read More...
The State Bank of Pakistan’s Monetary Policy Committee (MPC) will convene on Monday, January 27, 2025, to deliberate on the country’s monetary policy. The central bank confirmed that SBP Governor Jameel Ahmad will announce the committee’s decision in a press conference following the Read More...
The Economic Coordination Committee (ECC) has approved a change in the timeline for annual electricity tariff rebasing, setting January as the adjustment month starting in 2025. The decision, made during a meeting chaired by Finance Minister Senator Muhammad Aurangzeb, aims to address consumer Read More...
The Pakistan Tax Bar Association (PTBA) has urged the Federal Board of Revenue (FBR) to establish a dedicated tax office in Gwadar. The move is deemed essential to address rising economic activity and compliance challenges faced by local taxpayers in Gwadar, Turbat, and nearby regions. In a Read More...
The Federal Board of Revenue (FBR) has been urged to make a definitive and clear decision by explicitly stating in the law that the tax rebate for full-time teachers was valid until the tax year 2024.
The Federal Tax Ombudsman (FTO) issued these directives to the FBR after receiving Read More...
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